BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Is under 19, or under age 24 and a full-time student, or permanently disabled at any age
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Lives with you more than 50% of the year
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Doesn’t provide more than half of his or her own financial support
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all of the above
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Detailed explanation-1: -The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative. A qualifying dependent can have income but cannot provide more than half of their own annual support.
Detailed explanation-2: -To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test: To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a “student” younger than 24 years old as of the end of the calendar year.
Detailed explanation-3: -Related Definitions Dependent child means a child residing in an individual’s household who may legally be claimed as a dependent on the federal income tax of such individual.
Detailed explanation-4: -Which of the following criteria is necessary to qualify as a dependent of another taxpayer? Must be considered either a qualifying child or relative.